One striking result is that configuration with little turnover may produce very intense competition. This may explain the intensity of many conflicts in Africa. It may also explain how competition may bring progress even when the market is controlled by stable monopolies.
King of the hill
In the work "King of the hill" Kalle Moene and Halvor Mehlum analyze a never ending competition between two parties, which may be political parties or business rivals, war lords or religious groups. The authors discuss how the stakes involved are affected when victory one period is a benefit in the next.
Published Mar. 3, 2008 12:53 PM
- Last modified Aug. 27, 2013 2:41 PM